USEUROPEAFRICAASIA 中文双语Français
Home / Mosaic

OPEC hopes for oil price cut

By Fu Jing | China Daily | Updated: 2007-11-17 07:14

RIYADH: The Organization of Petroleum Exporting Countries (OPEC) hopes that oil prices will fall despite coming close to the symbolic mark of $100 per barrel mainly due to high winter demand.

OPEC Research Director Hasan Qabazard told China Daily on Friday that the demand-supply fundamentals of oil remain unchanged and oil prices should drop.

"Our spare production capacity is still strong, and supply has been basically met," said Qabazard prior to the third OPEC summit in its 47-year history. "But the price drop is only my hope, instead of the forecast."

OPEC hopes for oil price cut

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US